Congratulations, your first campaign is up and running! Suddenly, numbers start appearing on your dashboard - a lot of numbers. Good news, it means your ad is actually being seen by people…but now, how do you know if it is performing effectively? No doubt, you are spending a lot of time and money on these ads as part of your overall marketing strategy, so it has to be worth it. In this blog I will explain how to create your own Facebook reporting tool and which important metrics you should add to it.Of all the crucial
Facebook Ads Reporting
On your Ads Manager page, you can see all your active campaigns (the ones with the green button) and the ones that ended. I like this board, but it can easily get confusing and overwhelming: too many numbers. That’s why I started using Ads Reporting. I created my own dashboard with the metrics that are important for my everyday. In seconds I can evaluate if my ads are performing well. If, like me, you want to have all your information on one page, this is the tool for you.
First, here is how you can create your own personalized dashboard
- In your menu, find Ads Reporting,
- The click on Add report.
- Choose your filters. I recommend building reports according to your objective.
- Choose Filter: Delivery is active, so you only see the campaigns that are currently running.
- After, you can choose any filters according to your needs (language, placement…)
- Once you have your report set up, you need to add the right metrics.
- Click on Columns and in the drop down menu, click on Customize Columns.
- This window opens.
- On the left side, you can pick the metrics that you want on your dashboard, and on the right you organize your metrics in order you want to see them.
What should I see on my dashboard?
Now that you know how to create your own dashboard, you might wonder what stats are important? Unfortunately, there is not one simple answer. It depends on your business and on your marketing goals. But generally speaking, these are the stats that will matter most to you, and this is how I created my dashboard.
- Results: When you set up an ad, your first step is to set up an objective - whether conversion or page likes or traffic. This measure tells you how many times your ad achieved your goal so it is a critical one - usually the first one I look at.
- Reach: Number of Facebook users who have seen your ad. However, it is not the exact number of people. If your ad appeared on a news feed but the person didn’t scroll down to see it, it will still count as view.
- CPR (cost per result): Pretty straightforward. It is the total budget divided by your number of results. Obviously the lower the better, but there are no good or bad numbers. It totally depends on your business and your goals. For example, if my goal is to get leads, the CPR will be much higher then if my goal is to get web page visits. The best tip I can give you is to start experimenting and use your CPR to compare its performance to other campaigns.
- Frequency: Number of times a person sees your ad on their Facebook newsfeed. I think this stat is very important because although you are building awareness, you don’t want to spend a lot of money on people who have seen your ad but never clicked on it. Obviously they are not (for now) interested in what you are trying to sell. However, this metric is not a deal breaker. If your ad has high results but your frequency is also high, it's probably a good idea to keep it going. When your ad performance drops as frequency is rising, it is a sign of ad fatigue and it is time to switch it up or stop it.
- Impressions: Impressions is the number of times your ad appeared on a screen. How is this different than reach? Reach is the number of people - if a person sees your add twice in a day, it counts as 1 reach but two impressions.
- Link clicks: Usually, in order to achieve the goal you set up, people have to click on your ad. You can see it as the first step of many. That’s why the link click is an important measure and should be on my dashboard. It measures the level of interest your ad generates among your audience.
- CPM : This one stands for Cost per 1000 people reached. You divide your amount spent by the total amount you spend and multiply by 1000. This is an important performance measure and is easy to compare with your other ads. For example, you might have an ad that seems to be performing very well and have a high reach, but if you are spending a ton of money on it, it actually lowers it's performance.
- CTR (click through rate): CTR is the percentage of times people saw the ad and clicked on it. It's a very general metric and a lot of people use this one to evaluate if the ad is performing well. A “normal” CTR varies between 0.5% and 2%. personally, I always try to keep it above 1%.
- Amount Spent: Of course, you need to keep an eye on the amount you're spending on every ad, so it should be included on your dashboard.
What you should talk about during your meetings
What do people want to know about your Facebook ads? If they don’t know much about Facebook advertising, there are two things they want to know: if the ad is working and how much are we spending on it. The results and the cost per result should always be in your report. Subsequently, it's up to you if you want to add more metrics, but usually people get bored of stats very easily. Just like your new Ad Reporting dashboard, keep it simple.
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